Live updates: Countries meet about Strait of Hormuz after Trump’s Iran war speech fails to calm nerves

Iran naval meeting: 12 nations discuss Hormuz crisis after Trump’s war threat fails to calm markets

Muhammad Asghar | GlobalBeat

Twelve nations convened emergency talks in Oman on Friday over rising Strait of Hormuz tensions following US President Donald Trump’s televised address warning Iran of “overwhelming military action.”

The hastily organized meeting brought together Gulf Arab states plus Japan, South Korea, India, and European powers after oil prices surged 8% and shipping insurance rates tripled overnight.

Nearly 20% of global oil supply passes through the narrow waterway, where Iran’s Revolutionary Guards seized 2 commercial vessels this week and deployed additional patrol boats. The Islamic Republic warned any US attack would trigger immediate closure of the strait.

Emirati Foreign Minister Abdullah bin Zayed flew into Muscat from Abu Dhabi at dawn, telling reporters that “regional stability cannot survive another war.” Qatar’s delegation arrived carrying briefings on contingency plans for rerouting liquefied natural gas shipments that normally sail past Iran’s coast.

The Trump administration dispatched Deputy Secretary of State Christopher Landau, who held 90 minutes of closed-door talks with Omani mediators ahead of the main session. State Department officials later released a terse statement saying “all options remain available” without clarifying what diplomatic room exists after Trump’s Thursday night speech ruled out negotiations.

French diplomatic sources said Paris proposed creating a joint naval monitoring task force operating independently of Washington’s existing carrier strike group. Such a force would need Iranian consent to avoid confrontation, raising questions about whether Tehran would accept European-flagged vessels shadowing its coastline.

Iran’s supreme leader Ayatollah Ali Khamenei responded to Trump’s threats within hours of the US address, posting on his official website that American “bullying” had failed for 46 years “and will fail again.”

The Revolutionary Guards announced overnight they had deployed anti-ship missile batteries at 3 undisclosed locations along the strait’s Iranian shoreline. Commercial satellite imagery obtained by maritime intelligence firm TankerTrackers showed 23 Iranian fast attack craft massed near Qeshm Island, up from 6 vessels present Monday.

Japanese shipping giant Mitsui OSK Lines temporarily suspended new bookings for crude cargoes loading after July 6, citing “unacceptable risk premiums.” The move affects roughly 100 million barrels monthly that normally sail to refineries in Japan and South Korea.

Oil traders pushed Brent crude futures past $92 per barrel in early Singapore trading, their highest level since October. Each dollar increase costs European refineries approximately $1.2 billion annually, according to commodity analyst firm Kpler.

At the Pentagon, spokesperson Maj. Gen. Pat Ryder declined to detail specific military planning but confirmed the carrier USS Theodore Roosevelt and its escorts maintained position north of the strait outside Iranian territorial waters.

Background

The Strait of Hormuz has served as the world’s most sensitive oil chokepoint since Saudi Arabia began large-scale crude exports during the 1950s growth boom. At its narrowest point, the waterway measures just 33 kilometers wide with shipping lanes barely 3 kilometers across in each direction.

Previous confrontations include Iran’s 1980s tanker war against both Baghdad and Washington during the Iran-Iraq conflict, Revolutionary Guards mining operations targeting US-flagged vessels in 1987, and Tehran’s brief closure of the strait during the 2019 drone shootdown crisis under former President Hassan Rouhani.

What’s Next

Diplomats expect a second emergency session Sunday in Geneva, where Russia and China will join deliberations amid growing speculation that Moscow might propose UN Security Council talks. Insurance underwriters at Lloyd’s of London review premium rates Monday morning, with executives warning shipping costs could rise another 40% if no de-escalation emerges over the weekend.

Regional stability now hinges on whether backchannel talks between Oman and both capitals can produce face-saving language that allows Trump to claim deterrence while letting Tehran open the strait without appearing to retreat under American pressure.